Markel partners with Buoy

Buoy Boat Holdings , an affiliate of bolt agency , is collaborating with Markel to introduce a new insurance offering for boat renters and liveries with app-based technology that enables check-in/check-out, safety education, compliance, and facilitates liability coverage for liveries and renters as required by Florida’s Boating Safety Act of 2022.

“Buoy’s technology brings the latest in boat-safety science to boat owners, liveries, and renters. We’re delighted to bring a solution to support the tremendous growth of rentals that we see occurring every day in Florida.” – Jeff May, Executive Underwriting Officer at Markel.

The Florida Boating Safety Act of 2022 requires liveries, or boat rental operators, to carry a commercial policy that names the livery and the renter on the same form and carry the required limits. Buoy looks forward to expanding beyond Florida in the future.

“We’re incredibly fortunate to collaborate with Markel, a top-ranked insurance provider for boat-businesses, with over 45 years of marine underwriting and claims experience. Inventing embedded insurance offerings with technology that incentivizes safety is part of our mission, and we look forward to growing this collaboration.” – Rob Bauer, Chief MGA Officer at Bolt.